St. Cloud Area Quarterly Business Report
St. Cloud Area Quarterly Business Report, Vol. 24, No. 2
St. Cloud area unemployment reached its lowest point since measurement began in 1990, registering at 1.8% in April 2022. Area economic growth was very strong in the months leading out of the Omicron wave of the pandemic, with a majority of survey respondents reporting higher business activity in the February to April period. Over 70% reported paying higher wages and charging higher prices for their goods and services. 5 of 6 leading indicators were positive. In special questions, more than 70% of surveyed businesses did not lay off workers but of those that did a majority did not return many of them to their payrolls. Regional data showed that continuing unemployment insurance claims in 2022 were higher in both accommodation and food services and in health care and social assistance. It was lower in manufacturing and wholesale trade.
Banaian, King and Komai, Mana, "St. Cloud Area Quarterly Business Report, Vol. 24, No. 2" (2022). St. Cloud Area Quarterly Business Report. 95.